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Ant1986 - The same ANT1986 whocontinually slammmed me for saying this had further to drop when it was sitting at around 180 if I remember correctly. As an aside YTD PFC - 25%, Wood -48%

DagenhamDave
For a rough and ready calculation then it appears the price is at or around wher it should be until such time as the compay tell us different on the profit side and we are going to have sometime to wait and see what that is. End of Novemeber for a CMD seems a long way off when you are bleading 10% per day

Just realised 118.25 was yesterday close so their system must be going crazy and cant deal with the drop:)

Just to through a spanner into my previous post - just tried a sell order through my broker and was quoted 118.25p! Granted market is closed and this was an indicative price but still.

Does anyone on this board really believe a share can drop over 10% in a day (even in this market) without something more fundamental going on in the background?
I'm no expert by any means but this is stunning. I remember people here buying in when this was close to 200p to reduce their average and I thought they were better educated in the market than I am. I also topped up with a few on teh way down but the recent daily percentage drops and volumes have me thinking this is not donw yet. Slightest bit of bad news and we are dead!
Given teh compay's position now (order book, low debt etc.) whats everyone's opinion of a "fair" market share price?

Grapeboy

There may be something in that but i personally dont think it is causing this massive drop. Wood has a nice diversity of services. Wood are out of favour with the market - too many surprise over the last couple of years, CEO change, no clear strategy (yet!).
New CEO must be wondering what he has taken on! He bought in heavy from the get go so feeling financial hit on teh drop as well as the inevitable pressure from the BOD

Dagenhamdave

Im in exactly the same place - thought about getting out a few times over the last two months or so but I'm still in and staying in. Whole market is a gamble at the moment although granted this one is probably amongst the worst.
I think its pretty bad they have completed the sale and arer waiting until late November to clarify what exactly they are doing with the proceeds. Market worries there is more bad news in here and needs some confidence building news just to stabilise the price

By the time they role out their strategy next month this will be around 100p and even great dnews and delivery will not move this sugnificantly to the upside.. Many on this board will say the whole market is down and thats true but this one is just tanking. You need to be prepared to hold this one for a very very long time ot get any sort of meaningfull upside.
Of course just my opinion and there will be those on here who say I am just pessimistic but they were saying that when it was close to 200p and I was posting it had a long way to go.

Based on operformance over teh last few months 180p is probably quite good!!

There must be something in the background here - this one is falling alomost daily and not by insignificant amounts. They must surely be on teh radar for some acquisition hunting company at this level and with teh exchange rate they are an even cheaper buy. The BOD should surely be concerned at this movement and still nothing being issued. By the time of the CMD ion November this will be in the gutter. Cant believe any company take this long to develop a strategy and bring it to the market. Something definately amiss either way

and .... reporting is in dollars and UK revenue will take a hit that way although not sure how much of their total revnue/profit that is

Just proves he's got money to lose by the way this is tanking

Good to see this but ..... he's showing he's willing to lose like the rest of us :)

Sale didnt do it much good did it. I know the market is in teh pits at the moment but this one cant get a grip.1.8B in teh bank and its still dropping!
Looks like teh market already priced in the "good news" of the sale and dont like what is not being said about what they are doing with the proceeds. I know its crazy but cant see this moving in any sustainable way to the upside any time soon.

With the market the way its is the sale is going to get "lost" in a the wave of bad news so any upside is going to take some time to materialise

Nacho

All good points and nothing in your post I can take issue with.

However even with all that said i still believe there is an undercurrent to this share driving the price considtstently lower at the moment. This was at around the 250p mark on teh back of the sale announcement and other than the a few days up here and there its been on a downward slope. Either confidence in teh ability to complete the sale and deliver on teh new strategy ebbing or there is something more fundamental at play.
Testing 52 week lows a few months after announcing the sale and two weeks away from tehir anticipated completion date is not good.

There's got to be somehting behind this slide today - this is getting close to being down 10% in one day - that's got to be based on something under the surface surely ???

Starting to wonder if there is news in teh background here about the asset sale. I cant see any other reason for this going south at the rate it is. Am I missing something? Two or so weeks until they anticipated to close on teh deal - shorters not moving and price again heading down towards a 52 low. Really struggling to understand the market sentiment on this one

Woodell
Yeah that would do it especially on teh back of yesterdays strong uptick!

Robin Watson appointed to Homeywell board